It is often only when you get into sorting out the financial matters between a couple that they realise that capital gains tax is a ‘thing’ and it could cause problems and cost. Happily, the restrictive and often torturous rules are changing as from 6 April 2023. The changes are that separating …
capital gains tax
Changes to Tax when divorcing
“The best things in life are free, but sooner or later the government will find a way to tax them.” Ah, tax and the Inland Revenue. Complicated regulations that catch you when you are alive, dead and divorcing. There is some good news on the horizon as from next year, however. Next year? Listen, …
Changes to capital gains tax on separation and divorce
What is the current position regarding spouses/civil partners and CGT? A person can transfer assets to their spouse or civil partner on a no gain, no loss basis up to and including the tax year in which they separate. For example, where a husband acquires shares for £20,000 and later …